Property & Building Condition Assessment

Industrial – Commercial – Multi-unit Apartment Buildings

Performed by a Professional Engineer

Based on the ASTM E-2018-08 standard

Multi-unit apartment buildings

Industrial properties

Commercial properties

Shopping centres

Hotels and motels

Office buildings

An audit of the building condition, which outlines the development of efficient, reliable and affordable methods for current and future repairs, is mandatory for keeping a building in adequate condition. This allows property owners to plan their budget.

The Building Condition Assessment scope includes the following items:

Structural and foundation condition survey of the exposed elements

Roof

Exterior walls

Common hallways and stairwells

Sample units (apartment buildings)

Underground parking garage (when applicable)

Plumbing systems

Electrical systems

Mechanical systems

Site components

Infrared thermal imaging (optional)

The Assessment Report includes:

Photograph documentation

Assessment of the property's interior and exterior conditions, systems and components

Suggested remedies for physical deficiencies (optional)

Probable cost to remedy physical deficiencies (optional)

Building Condition Survey for Investors:

Conducting a Building Condition Survey before or during the purchasing process of an investment property is essential. The survey is a conditional requirement of lenders in order to assure the building's proper condition within acceptable maintenance costs during the duration of the mortgage. It is also a tool for investors to negotiate the price of the building with the seller; reducing the price of the building, or demanding repairs before the building purchase is complete. The cost of conducting a Building Condition Survey is minor compared to the cost of the building's purchase, and any other expenses that are involved in the purchasing process.

Building Condition Survey for Building Owners:

The purpose of the Building Condition Survey is for building owners to evaluate the physical condition of the building for long-term maintenance. A long-term maintenance program addresses the specific needs and condition of the building, and helps the building owner to maintain it in the proper condition, while reducing maintenance costs. The Building Condition Survey lists any deficiencies currently existing in the building and its systems, assesses the life expectancy of major components of the building, and suggests recommendations for future repairs and replacements. Items that are included in a Building Condition Assessment are for example, the building's structural elements, its finish, its safety compliance with current codes, and an overall view of the building.

It is recommended that a Building Condition Survey is conducted on a periodic basis; usually every three to five years. The frequency of the survey depends on the use of the building, its structural concept, location, size, and age. In addition, it is recommended to conduct a Property Condition Assessment, if there are issues that require immediate attention, such as cracks or water penetration that might affect the long-term maintenance program of the building.